Monday Watch

Today's Headlines

Bloomberg:        

• China Tells Its Finance Firms to Boost Infrastructure Support.

• Big Questions on Global Economy Hang Over Jackson Hole Gathering.  

• Asia Stocks Set for Mixed Start; Dollar Holds Loss . Asian equities looked set for a mixed open Monday as traders look for clues from earnings reports, developments in the trade war and a meeting of central bankers in Jackson Hole to gauge the outlook for growth. Futures indicated Hong Kong shares may open with small declines, while Japan was poised for a muted start to the week. The dollar held on to losses sustained last week, with the 10-year Treasury yield at 2.86 percent. The yuan steadied after stemming its recent declines amid signs China is propping up the currency just as it prepares to restart trade negotiations with the U.S. Futures on Japan’s Nikkei slid 0.1 percent in most recent trading late Friday. Futures on Hong Kong’s Hang Seng Index dropped 0.4 percent. Futures on Australia’s S&P/ASX 200 Index rose 0.5 percent.

• Five Things You Need to Know to Start Your Day.

Wall Street Journal:   

• U.S. Military Faces Sweeping Turnover Among Commanders.

• MS-13, Violent and Unruly, Is Trying to Organize—Can It?

• As Euro Crisis Ends, Italy Stokes Fear of a Revival.

• Canada’s Auto Capital Caught in Crossfire of Trade Dispute.

• Amazon’s No Bargain. Here’s Why Investors Keep Buying.

Fox News:

• Bolton suggests ex-CIA boss Brennan may have misused classified info.

CNBC:

• Millennials are sharing streaming passwords, costing companies millions in revenue. 

• An unlikely winner in the long-running bull market: Health insurers.

• Deloitte: Parents are set to spend $510 per household during back-to-school shopping, and most will be in stores.

Zero Hedge:    

• In Stunning Admission, Jack Dorsey Acknowledges Twitter's "Left-Leaning" Bias

• Clapper Turns On Brennan: "John And His Rhetoric Have Become An Issue".

• Did Erdogan Quietly Fold? Overnight Lending Rate Spikes 150bps Amid Silence From Central Bank.

• Step Aside Russia: US Warns Of China, Iran And North Korea "Election Meddling" Next.

• Venezuela's Key Refineries At Risk Of Seizure.

• Wisconsin Company Injecting RFID Microchips Into Hands Of Employees.

• Elon Musk: Changing The Way I Work "Is Not An Option".

• Venezuela In Chaos After Maduro Announces Massive 95% Devaluation, New FX Rate Tied To Cryptocurrency.

• Tech Firms Account For 60% Of Profit Margin Growth In The Past 20 Years.

• CDC: 25% Of Adults Have Life-Impacting Disability.

• Seymour Hersh And The Death Of Journalism.

• Emerging Markets Have Gone Nowhere Over The Past Decade.

Business Insider:

• Barging into your home, threatening your family, or making you disappear: Here's what China does to people who speak out against them.
  

Night Trading

• Asian indices are unch. to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 82.5 +.25 basis point.

• Asia Pacific Sovereign CDS Index 11.0 unch.

• Bloomberg Emerging Markets Currency Index 66.61 -.05%.

• FTSE 100 futures +.11%

• S&P 500 futures +.09%.

• NASDAQ 100 futures +.15%.

Morning Preview Links

Earnings of Note

Company/Estimate
Before the Open:

• (EL)/.56

• (ZOES)/-.04

After the Close:

• (FN)/.75

• (NDSN)/1.60

Economic Releases

• None of note

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Eurozone PPI report and the (EFX) investor meeting could also impact trading today.

BOTTOM LINE: Asian indices are slightly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the week.